Never touch the principal!!!

I was reminded of that old rule of investment survival when I read the Bloomberg report in this morning's Washington Post. What brought it to mind was this headline:

"Treasury to tap pensions to help fund government"

It went on to say:

The Obama administration will begin to tap federal retiree programs to help fund operations after the government loses its ability Monday to borrow more money from the public, adding urgency to efforts in Washington to fashion a compromise over the debt.

Treasury Secretary Timothy F. Geithner has warned for months that the government would soon hit the $14.3 trillion debt ceiling — a legal limit on how much it can borrow. With the government poised to reach that limit Monday, Geithner is undertaking special measures in an effort to postpone the day when he will no longer have enough funds to pay all of the government’s bills.

So Pilgrims, let me get this straight -- our Gob'mint has spent it's way to near bankruptcy, used up it's line of credit several times, and now once again - instead of reining in spending (or even considering such a step) is saying out loud that they are going to start raiding the obligated retirement fund piggy banks!!

I'll link you so you can read the whole discussion for yourself, but Hot Damn!! When are the American voters gonna rise up and say "Enough is a damned Enough!" Stop - Desist - Whoa!!!

I see rioting continues in the streets of Spain, Greece and elsewhere, because their ain't even any pesetas or drachmas left in those treasuries or their savings account. Is that us, we are looking at, a year into the future?

Surely we are better than that--- surely!!!

Here are two links, you ought to visit both.....

Washington Post Story

National Debt Clock (Unfunded liabilities bottom right hand corner) $113,833,902,855,362 (that's $113 Trillion bucks, not just the $14 trillion owed today)